- The MACD is significantly below its signal line, which suggests the market is running out of bearish momentum and could revert to a positive outlook as bulls regain control.
While on a 3 day slump, falling a total of 1.28%, Similar trend today: the DAX ended yesterday's trading session by losing 0.19% and is now trading at 14,355.
The index has been trending positively for about a month. 2 months ago, the DAX fell to a low of 15.42 but has since recovered 93,177%.
The MACD is significantly below its signal line which suggests that the existing bearish sentiment is beginning to swing around toward a more bullish outlook.
Technical analysis shows that the DAX (currently on a downtrend) might reverse course and start going up in the short term.
Fundamental indicators – Germany Consumer Price Index came out at 10%, while a consensus of analysts was expecting 10.4%.
Other assets are showing positive performances as KOSPI Composite Index jumps 1.61% to trade around 2,472.53. Hang Seng added 2.1% to its value, now trading at 18,600. ASX 200 gained 0.43% and is now trading at 7,284.2.
Upcoming fundamentals: today at 08:55 UTC data for Germany Unemployment Change will be released, with an expected decline to 13,000 from the preceding figure of 8,000.